Answer:
Ending inventory cost= $948
Explanation:
Giving the following information:
First Purchase= 310 units for $3 each
Second Purchase= 220 units for $4.9 each
Units sold= 290
First, we need to calculate the weighted average cost:
Weighted average cost= (3 + 4.9)/2= $3.95
Ending inventory (units)= 240 units
Now, ending inventory cost:
Ending inventory cost= 240*3.95= $948
The kind of motivation at play based on the consumer’s behavior in the given scenario is <u>irrational motive</u>
There are two kinds of motives in consumer behavior which includes:
- Rational motives: This has to do with making a purchasing decision based on the best decision available that would give maximum satisfaction.
- Irrational (emotional) motive has to do with those decisions that a consumer makes based on how he <em>feels </em>about a particular product, without considering utility (satisfaction)
Based on the given scenario, we are told that Lila is going to purchase a couch and she goes to the store to get one. When she gets there, she notes a comfortable cushion, but makes the decision to get a less comfortable for "reasons she cannot explain". This is an example of Irrational (emotional) motive
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Answer:
a. $5,850
Explanation:
Under the LIFO Method, the cost of good sold equals to
= January 28 units × cost per unit + Remaining units × cost per unit
= 100 units × $24 + 150 units × $23
= $2,400 + $3,450
= $5,850
Since the firm has sold 250 units, so out of which 100 units sold at a price of $24 and the remaining 150 units sold at a price of $23
Answer:
The TRUTH about the soap purchasing options is:
d) it is better to but the 10-ounce bottle because the price per ounce is cheaper.
Explanation:
a) Data and Calculations:
Cost of 10 ounce bottle of soap = $2.00
The per ounce cost of the 10-ounce bottle of soap = $0.20 ($2/10)
Cost of 20 ounce bottle of soap = $5.00
The per ounce cost of the 20-ounce bottle of soap = $0.25 ($5/20)
Therefore, the 10 ounce bottle of soap is cheaper and better.
b) It is more cost-effective to buy the 10 ounce bottle of soap. With $4.00, one can buy 2 of 10 ounce bottle of soap unlike $5.00 spent for 20 ounce bottle.